Will the Bank of Japan Intervene Again to Weaken Yen vs. Dollar?

Filed under: Forecasts, Currency

The yen weakened early Friday on speculation that the Bank of Japan will re-enter the currency market to further sell the yen to protect exports, Bloomberg News reported.

That sets up a classic struggle between the Bank of Japan, which has already intervened this month --- selling the yen to weaken the currency versus the dollar -- and yen-bullish institutional investors, who believe market forces will be stronger, and ultimately lead to a stronger yen versus the buck.

The yen weakened early Friday, rising as much as 1 yen to 85.38 yen to the dollar, before strengthening late Friday afternoon, to 84.29.

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Will the Bank of Japan Intervene Again to Weaken Yen vs. Dollar? originally appeared on BloggingStocks on Fri, 24 Sep 2010 18:00:00 EST. Please see our terms for use of feeds.

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